More Details on This News

Sapphire Foods India Limited announced a significant corporate restructuring following a Board of Directors meeting held on January 1, 2026. The Board has approved a scheme of arrangement for the amalgamation of Sapphire Foods India Limited (Transferor Company) with Devyani International Limited (Transferee Company).

As per the scheme, Sapphire Foods India Limited will be absorbed into Devyani International Limited, effective from the Appointed Date of April 1, 2026. In consideration of this amalgamation, Devyani International Limited will issue 177 equity shares of ₹1 each for every 100 equity shares of ₹2 each held by Sapphire Foods India Limited shareholders, subject to a Record Date.

The merger framework agreement, dated January 1, 2026, has also been approved, involving Sapphire Foods India Limited, Devyani International Limited, Sapphire Foods Mauritius Limited, Sagista Realty Advisors Private Limited, and RJ Corp Limited. The effectiveness of the scheme is contingent upon obtaining various statutory and regulatory approvals, including from the Competition Commission of India, stock exchanges, National Company Law Tribunal, creditors, shareholders, and other third parties. Additionally, a secondary sale transaction involving 5,94,55,837 equity shares of Sapphire Foods India Limited by SFML to Arctic International Private Limited is a condition precedent.

Furthermore, the Board approved a binding term sheet with Yum India and its associated entities for current and future business organization. The company also approved the shifting of its registered office from Maharashtra to Haryana, subject to shareholder and regulatory approvals. The Board meeting commenced at 05:28 p.m. and concluded at 06:05 p.m.

The net worth of Sapphire Foods India Limited as of March 31, 2025, was ₹13,269.93 million, with a revenue from operations of ₹24,510.76 million. Devyani International Limited had a net worth of ₹10,381.02 million and revenue from operations of ₹33,493.33 million.